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Introducing Kestrel: How to Simplify Revenue Collection in Healthcare

Your primary goal is to improve the health of your patients. But tracking down payments can interfere with this bigger mission and cost your hospital valuable time and resources. Databound Healthcare Solutions’ claims management service (code name: “Kestrel”) will help simplify the revenue collection process and let you focus on what really matters. Kestrel is planned to be available Q2 2018.

Kestrel reduces the burden of following up on large volumes of claims. The service translates claims into efficient work lists for action. If you suffer from insufficient collector and IT bandwidth, Kestrel may be the exact service you need.

What is Kestrel?

Kestrel, a service being created by Databound Healthcare Solutions, will simplify the claim follow-up process and minimize time spent tracking down information for claims. Kestrel automatically sorts tasks according to predetermined rules (established by your business). Then it creates highly curated worklists for your team.

The Kestrel processing engine uses the following sources of claims data:

  • 837 Claim Submissions
  • 277 Claim Responses
  • 835 Remittance Advice
  • Information from your patient accounting database
  • Information obtained directly from payers

The Kestrel service lets you automatically invoke claims status investigations (without staff intervention) and bring claims to your staff’s attention based on a set of rules—as defined by your business.

The Power of Kestrel

Kestrel is a hosted service that helps you keep track of each claim for its life cycle. This automated oversight integrates with your patient accounting system (e.g. Soarian Financials) to help reduce denials. With Kestrel, you can gain intelligence as it is used and utilize this powerful data to drive process improvement upstream.

 

The Kestrel service is currently in development with expected delivery of Q2 2018. If you want to streamline your revenue management tasks, we are currently looking for customer partners. Contact us to learn more about how your facility can benefit from Kestrel.

Databound Healthcare Solutions automates and streamlines hospital revenue management tasks and business processes to give our customers more efficient operations and increased revenue. Visit our website to learn more.

https://upscri.be/b273a8/

 

About the Author
Mike Burhans, MBA, CRCR - Relationship Manager Mike Burhans, MBA, CRCR - Relationship Manager

I’m the Relationship Manager with Databound Healthcare Solutions. In my role, I help people identify the technologies they can use to solve complex business issues or rise to new challenges and help them get the most from those solutions. I understand that working in the healthcare revenue cycle is challenging and the cost of failure is high. As such, I enjoy providing tools and guidance that makes success easier to achieve. Over the past three years, I’ve helped a handful of facilities implement insurance discovery and watched their reimbursement revenue grow by over $25,000,000 as a result.